Results Of Drilling Block 4 Are In: Gas found not commercially viable
Guys, how much more can things truly suck?
Actually, I’ll take that right back, wouldn’t want to tempt fate.
In a statement released to press a couple of hours ago, Total (the company that had the bid to explore Lebanon’s apparently dwindling gas fields), the following facts were revealed:
“The well did hold traces of gas that confirms the presence of a hydrocarbon system, but it did not encounter any reservoirs of the Tamar formation, which was the target of this exploration well.”
That’s fancy talk for: the gas TRACES found in Block 4 are not commercially viable. And that’s fancier talk for: we can’t make cash out of the shit that’s in Block 4. Congrats guys, another punch in the face.
